Fisker lowers price of Ocean Extreme trim before raising MSRP of its 2024 models next month

As Fisker looks to hit its production stride (and annual output target) going into Q4, it’s also preparing for its 2024 model year. Beginning today, Fisker has lowered the price of its top-tier Ocean Extreme trim by $7,500 – but if you’re looking to get any other version of Ocean, best to buy now, as MSRPs are set to see some price increases when the 2024 models go on sale next month.

This has been a crucial year for Fisker Inc. ($FSR), the surname’s second attempt at scaling from EV startup to bonafide global contender. That journey truly began nearly a year ago, when production of Fisker’s flagship model, the Ocean, began at Magna Steyr last November.

Since then, Fisker has had to adjust its output targets twice after early stumbles to build vehicles. The last quarter showed promising headway as the American automaker shared it had built 5,000 Ocean SUVs. The markets responded with optimism, even after the Fisker shared plans to raise additional funds and dilute its investors just days later.

Now on track to begin cranking out 300 Ocean EVs per day, Fisker is looking to entice would be customers to its most-expensive trim by lowering the price quite a bit. However, while current and future Ocean Extreme customers will see a discount, the 2024 model year SUVs will see price hikes beginning in two weeks.

Fisker lowers one Ocean price before raising the rest

Before rolling out its 2024 Ocean models with updated pricing, Fisker is lowering the price of the Extreme trims from $68,999 to $61,499 – savings of $7,500. Those new discounts apply to new customers and those who have already ordered their SUV, even if it has already gone into production. Per company chairman and CEO Henrik Fisker:

It is essential that Fisker responds to competitive realities in the rapidly growing EV
market. We want our customers to have greater access to the Ocean and to be able to take advantage of its exciting combination of innovative features, striking design, sustainable materials, and class-leading range.

While the Ocean Extreme will save customers some cash, 2024 trims will see a price increase on November 6, 2023 when Fisker opens up its next order calendar. For example, the Ocean Ultra
will be priced at $52,999, up from its current MSRP of $49,999, while the Sport will be sold for $38,999, up from $37,499. Fisker spoke again:

We are very confident in the continued demand for the Ocean and we expect the Sport
and Ultra models to be the highest sellers starting in 2024. We expect our overall margins will be unaffected because higher Sport and Ultra pricing, combined with our cost-reduction initiatives and lower input prices, will support the anticipated trajectory of our profits.

Customers can still take advantage of Fisker’s lower Ocean prices until November 5, 2023. Pre-orders still cost just $250 down.

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